VANCOUVER, June 7, 2012 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) (the "Company"): reports that the Company has arranged a private placement of 50 million common shares at the price of $0.12 per share, for gross proceeds of $6 million. Funds from the private placement will be used to maintain current operations at the Madison property, to identify and pursue new business opportunities and for general working capital purposes.
The private placement remains subject to acceptance of the TSX Venture Exchange and the approval of the Company's shareholders.
The foregoing information contains forward-looking statements including but not limited to statements regarding a proposed private placement and the use of proceeds from such private placement. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company, including that the Company is able to obtain regulatory and shareholder approval of the private placement, that the Company is able to complete the private placement, that the Company's operations at the Madison project will continue at their current levels. Although the Company considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that the Company's operations at the Madison project will not continue at their current levels, and that the Company will be unable to obtain or will experience delays in obtaining any required regulatory and shareholder approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Ashley Garnot, Director
Phone at 604-683-6338